Securities and Exchange Commission (SEC)
Below the radar
The upcoming Basel II capital Accord’s impact on the global banking industry is expected to be profound, and hardly painless. The Accord’s ramifications for the investment and hedge fund management sectors, while not nearly as obvious,could contribute…
The Carrots and Sticks of Compliance
Compliance on the buy side might reward the early adopters while penalizing firms that fall afoul of industry best practices and institutional investors' expectations.
SEC finalises rules on hedge fund registration
The much anticipated SEC decision regarding US-domiciled hedge fund registration raised few eyebrows when it was announced late last month. It was clear, therefore, that hedge fund registration was only a matter of time, but what is less clear is the…
Email and IM Compliance: Have you got mail?
A lot has been discussed and written about the Securities and Exchange Commission's (SEC's) proposed rule 203(b)(3)-2 that requires hedge fund advisers to register with the Commission under the Investment Advisers Act of 1940. But another SEC proposal…
SEC to examine for Basel II compliance, says Donaldson
The Securities and Exchange Commission (SEC) is on course to examine investment bank holding companies (IBHCs) for risk-based capital requirements under the new Basel Accord, also known as Basel II, according to SEC chairman William Donaldson.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
Smothered by red tape
In response to a string of dubious structured finance transactions (remember Enron?), the ever-watchful regulators have proposed a set of guidelines which observers fear could choke the market.
SEC fund reforms may cost investors
Efforts by the US Securities and Exchange Commission (SEC) and legislators to reform mutual fund practices following late trading and market-timing scandals in the US last year may ultimately impair performance and cost investors more in fees and charges.
EU calls for review of credit rating agencies
The European Commission has called for a review by the Committee of European Securities Regulators (CESR) of credit rating agencies, amid renewed activity on both sides of the Atlantic on the credit rating agency regulatory debate. Also, according to…
Hedge fund industry grows 34%, says survey
The hedge fund industry grew 34% in 2003, from $592 billion to $795 billion, according to a survey by Hennessee, the New York hedge fund adviser.
Dealers hit out at US structured product proposal
Financial institutions are increasingly concerned about a multilateral proposal by the primary US federal banking and securities agencies aimed at offering best-practice guidelines on their use of complex structured finance. They are fearful the…
VAR: ready to explode?
The SEC plans to force US securities firms to tighten up their value-at-risk reporting. Its decision comes as VAR at the world’s leading financial services firms soared an average 25.8% last year. Who are the biggest risk-takers, and are risk managers…
Fidelity risk chief lands at SEC
The US Securities and Exchange Commission (SEC) has hired Charles Fishkin as director of the newly formed Office of Risk Assessment (ORA). Fishkin will manage the overall risk assessment programme, co-ordinating risk assessment activities across the…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
US regulators scorned over "prescriptive" proposal
The financial services industry's reaction to a new proposed statement from US regulators on complex structured finance activities was "somewhere between terrified and scornful", according to one industry association executive. Another industry…
US regulators extend structured product proposal response period
The five leading US federal agencies have agreed a 30-day extension to the comment period on their proposals for sound practices covering complex structured finance activities.
Rating reform
The winds of change that have been forecast to sweep through the credit rating industry are growing stronger, fanned by a set of proposals released by an influential group of finance and treasury bodies, as Saskia Scholtes reports.
US agencies seek feedback on structured finance guidelines
Five US federal agencies have issued a statement describing internal controls and risk management procedures designed to help financial institutions identify and address risks associated with complex structured finance activities.
SEC approves alternative method of capital measurements for broker-dealers
The Securities and Exchange Commission (SEC) has approved a rule that allows certain broker dealers to use internal models to determine their capital requirements. The Commission believes the rule would improve its oversight of broker-dealers.
SIA proposes ways for mutual-fund fees disclosure
The Securities Industry Association has proposed a system of Web-based and toll-free telephone disclosure of brokerage firms' relationships with mutual-fund companies. SIA said this would provide investors with thorough, easy-to-understand disclosure of…